Foreign bank departures, record profits, a big international investment gone badly wrong, an actual merger and fines and penalties galore – the past year has been a topsy-turvy one for Taiwan’s banking sector.
Let’s start with the merger. These are rarer than hen’s teeth in Taiwan. The deal sparked to life in December 2020, when Fubon Financial Holding, owner of Taipei Fubon Bank, the sixth-largest domestic lender by assets, tendered a NT$24.53 billion ($880 million) bid for a 53.84%
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